Mumbai: Shares of Maruti Suzuki India on Monday recovered from early loses and ended the day gaining 0.86 percent or settling at Rs 1,120.15 on the BSE. During the day it fell by about 3 percent following 22.84 percent drop in its net profit for the first quarter ended June 30.
Making a weak opening, the stock of the country's largest carmaker slipped 2.55 percent to Rs 1,082.30 on the BSE.
At the NSE, the scrip lost 2.72 percent to Rs 1,082.65.
"Maruti Suzuki (on Saturday) reported lower-than-expected results for Q1 FY'13 owing to increase in other expenditure led by unfavourable forex impact," Angel Broking Research Analyst Automobile Yaresh Kothari said.
Hit by the rupee depreciation and higher expenses, Maruti Suzuki India reported 22.84 percent decline in net profit to Rs 423.77 crore for the April-June quarter.
The company had reported net profit of Rs 549.23 crore in the same period last fiscal.
Net sales during Q1, however, increased by 27.53 percent to Rs 10,529.24 crore from Rs 8,256.58 crore in the year-ago period.
Meanwhile, in the broader market, the BSE 30-scrip index, Sensex, was trading at 17,024.21, up 185.02 points at 1129 hrs.
Recovering intra-day losses, shares of Maruti Suzuki India on Monday settled at Rs 1,120.15, up 0.86 percent on the BSE.
During the day, the stock touched a high of Rs 1,125 and a low of Rs 1,082.30.
At the NSE, the scrip closed 0.18 percent up at Rs 1,115.
In terms of volume, 1.37 lakh shares were traded on the BSE and more than 13 lakh shares changed hands on the NSE.
In the broader market, the BSE 30-scrip Sensex ended at 17,143.68, up 304.49 points.
PTI
First Published: Monday, July 30, 2012, 11:57